Watersmeet, MI Profile: Facts & Data

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Watersmeet, Michigan - Basic Facts

The Watersmeet Census Designated Place had a population of 406 as of July 1, 2020. Watersmeet ranks in the lower quartile for Population Density and the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Michigan. See peer rankings below.

The primary coordinate point for Watersmeet is located at latitude 46.2677 and longitude -89.1779 in Gogebic County. The formal boundaries for the Watersmeet Census Designated Place encompass a land area of 9.2 sq. miles and a water area of 0 sq. miles. Gogebic County is in the Central time zone (GMT -6). The elevation is 1,604 feet.

The Watersmeet Census Designated Place (GNIS ID: 2628673) has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

The Watersmeet Census Designated Place is located within Township of Watersmeet, a minor civil division (MCD) of Gogebic County.


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Watersmeet, MI Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 406 (100%)
Population in Households 406 (100.0%)
Population in Families 318 (78.3%)
Population in Group Quarters1 0
Population Density 44
Diversity Index2 49
 
 

INCOME

Median Household Income $39,923
Average Household Income $49,449
% of Income for Mortgage4 16%
Per Capita Income $21,734
Wealth Index5 43
 

HOUSING

Total HU (Housing Units) 252 (100%)
Owner Occupied HU 143 (56.7%)
Renter Occupied HU 26 (10.3%)
Vacant Housing Units 83 (32.9%)
Median Home Value $155,000
Average Home Value $257,092
Housing Affordability Index3 154
 

HOUSEHOLDS

Total Households 169
Average Household Size 2.4
Family Households 107
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2020 2020-2025
Population -0.51% -0.75%
Households -0.5% -0.72%
Families -0.62% -0.76%
Median Household Income   1.1%
Per Capita Income   1.45%
Owner Occupied HU   -0.71%

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Watersmeet, MI - Peer Comparisons by Rank and Percentile

The table below compares Watersmeet to the other 692 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 569 18th
Population Density # 688 1st
Median Household Income # 585 16th
Housing Affordability Index # 78 11th
Per Capita Income # 566 18th
Diversity Index # 67 90th

Additional comparisons and rankings can be made with a VERY EASY TO USE Michigan Census Data Comparison Tool.

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